Timil

Wish I could have bought more 2007 Britiannas least I got aboard even if its just in the cheap seats.

Yesterday I gave up on the smack down saw an opportunity to take delivery and bought.

Gold Coin in the hand is worth 2 in the market place soon being the theory.

Britannias which were £500 last time I bought, now £618 but down from yesterday £635 wish I''d bought more a few months ago.

I have 10% of my savings in shiny gold all that I can say is thank f*ck when I see the potential of whats unfolding all arou d me.

Weird days indeed its being alleged that Ruskie tanks n' planes in action in Georgia and basically a state of war exists and hardly a peep from Gold, good news Gold goes up bad news and Gold goes down or stays the same.

Worlds gone mad.

Oh Hell wheres my rocket picture when you need them.

Feelin Groovy

Punched through $900

Edit And all on a day where SM's are going to hell in a handcart.

Wow feelin queasy

They may be billionaires. But buying at/near an important peak...

 

...relying on wealth and art advisors sounds like a great way to deplete the family fortune, not to pass it on.

 

No advisor can "go wrong" advising buying the major "brand names" in arts. But now is not the right time.

I reckon that the art market (like physical real estate) probably peaks 6 -12 months after Sotheby stock.

 

My advice: Buy a young artist whose work you like, when it can still be ha at affordable prices.

Maybe after you've made money doing that, you can spread out into brand-name art

Dr Bubb couldn't agree more re height of the bubble etc, perhaps 3 years ago they were a bit lower down the slope, they're counter argument is that in the next hundred years there will be bigger bubbles.

It would appear they were more interested in securing their dynasty generations ahead, not the mucky business of making a return today they've already created all the money that they or their family could wish for in the short medium term.

The other more ominous thing was the estates they buy were scattered all over the world, were extremely large and remote, these purchases are in some kind of trust with large lump sums in them to fund the estate individually for 75 years without any return required.

There is no doubt they are bolt holes where the can relax, defend and store wealth in.

In a bizarre twist of circumstances I found myself in the company of two billionaires three years ago, really nice people two arms and legs same as the rest of us.

When the left one of their lackies tells me they where off to look at an estate abroad, as they where now so wealthy that they only bought stuff that wasn't being made anymore, i.e. had a finite supply, large tracts of land, Art, gold etc.

This was in an effort to cascade wealth through the generations, i.e. a Van Gogh may fall in value but in the next three or four generations there will be bubble opportunities to sell into.

Pah, so the last few days have been the Smackdown, why bother.

CNBC just had an alert go across gold at $1000. :D

Timil reporting fur duty.

Missed ma daily Doom, Gloom n' Gold Boom Fix.